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GameStop stock surges on Reddit post by Keith Gill

Jonathon Brown Jonathon Brown, The Market Online
0 Comments| June 3, 2024

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  • GameStop (NYSE:GME) stock spiked in premarket Monday trading after a single post by meme investor Keith Gill made waves online
  • An influential tipster who is also the investor behind the meme stock rally back in 2021, posted a screenshot late Sunday on Reddit, boasting more than 5 million shares worth US$115.7 million
  • The video game retailer’s shares were up roughly 85 per cent in premarket trading as investors speculate that Gill, the one who inspired the 2021 short squeeze, could have a big position in the video game retailer
  • GameStop Corp. (NYSE:GME) stock opened trading at US$40.19 per share

GameStop (NYSE:GME) stock spiked in premarket Monday trading after a single post by a meme investor Keith Gill made waves online.

Gill, an influential tipster who is also the investor behind the meme stock rally back in 2021, posted a screenshot late Sunday on Reddit, where he is known as “DeepF—ingValue”. The screenshot showed what could be his portfolio, boasting more than 5 million GameStop shares worth US$115.7 million. The image also showed his 120,000 call options in GameStop.

The video game retailer’s shares were up roughly 85 per cent in premarket trading as investors speculate that Gill, who is known as “Roaring Kitty” on X and YouTube and inspired the 2021 short squeeze, could have a big position in the video game retailer.

Investors will likely gain more insight into the company’s current state of operations when it releases its Q1 fiscal 2024 results after the market closes on June 11.

Early Monday, Best Growth Stocks, an independent equity research and corporate access firm, issued a comprehensive evaluation of GameStop, aiming to break through the media noise and offer a comprehensive analysis of its operations, financials, up to date outstanding shares, recent capital raise, chart setup, possible catalysts, management and other details.

For more on this, be sure to check out: “The art of taking a flyer: How to play the latest meme stock rally.”

GameStop Corp. is a U.S. video game, consumer electronics and services retailer. The company operates across Europe, Canada, Australia and the United States. It sells new and second-hand video game hardware, physical and digital video game software, and video game accessories.

GameStop Corp. (NYSE:GME) stock opened trading nearly 35 per cent higher at US$40.19 per share and have risen 112.49 per cent over the past month, but down 3.98 per cent since this time last year.

Join the discussion: Find out what everybody’s saying about meme stocks on the GameStop Corp. Bullboards, and check out the rest of Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

(Top photo: File photo.)



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